Trading Tip: Pricing a Plat-purchased Item
When an item purchased with platinum is listed for gold, how does one know if it is correctly priced and if the consumer community will buy or reject it?
For any Item to sell quick and profitably, there should be a reasonable gap between Value and Price. The gap should be just enough so that sellers can earn profit for making an exclusive item available and at the same time buyers can feel inclined to purchase what they need quicker while not feeling ripped off.
To calculate the current value of any plat-purchased item, we need to check the lowest priced platinum item in the Consignment Store. For example, currently it costs 25 platinum to earn a quick 50k gold from selling a 5 respec/25 ankhs kit.
Value:
So if a 25 platinum item is seen to be selling at 50k in CS, we may suppose that-
the current value of a 100 platinum item = 200k (approx)
the current value of a 500 platinum item = 200k x 5= 1m
the current value of a 1000 platinum item = 200k x 10 = 2m
Pricing:
Add some profit to the value and price it accordingly-
So pricing could be approximately,
100 plat item = 300k
500 plat item = 1.5m
1000 plat item = 3m
and so on..
*All the numbers are examples. The actual digits have to depend on the current values and fluctuate accordingly *
Lastly why is it important to not undercut another seller and maintain your price as close to the accepted price range?
Undercutting a seller in auction by heaps and tons of gold, not only devalues their item but also yours, for now and for the future, because buyers always keep wanting a lower than the lowest price in CS. So it is important to keep a basic accepted price range below which one should not go. If you have to undercut to make your listing appear above (not recommended), do so by 1 gold but do not devalue your own item.
For a stable economy it is somewhat important for buyers and sellers to arrive at a consensus regarding reasonable pricing. Is it not?
